I am not feeling the best tonight but I have not missed a single night of doing this Daily Analysis since I started doing it months ago and therefore I do not plan to stop today. Because I am not feeling goo however, this will be a short one. If you would like to here more from me please tune into my Twitter and/StockTwits feed (@BenCBanks). I have posted a lot of charts there this evening and some decent set ups going forward.
Basically the market is consolidating at highs and the trend is still in tact. In that sense, nothing has changed, and until it does – PLAY IT LONG. Why in the world would you fight a strong bullish trend? It takes alot more effort to go against the grain than it does with it. That being said, all this could change tomorrow, and the trend could be over but if we are going with what we know right now.. We easily come the conclusion that higher is the likely probability as the trend is obviously still up.
Google is still hanging tough and consolidating near yearly highs. Keep an eye on this name.
Apple still has ALOT to prove. It really needs to get back over the downtrend line to get me interested.
XLNX and MENT seem to be setting up for awesome ‘trend starting’ breakouts. I would check them out.
That is all I got tonight. I’ll post more tomorrow, hopefully I will feel better then as well. Have a good night. Tweet or email me (via contact page) if you have any questions or comments!